Synchronoss Technologies (SNCR) - Get Report shares were up were nearly 10% in Friday morning trading after it was revealed that investment firm Silver Private Holdings took a 12.93% stake in the cloud computing company. 

The firm purchased 1.36 million shares at an average purchase price of $15.90 per share. The total price of the purchase was $21.57 million.

Silver Capital said that it purchased the shares "mindful that they may be interested in pursuing a potential strategic transaction" involving the company. 

Last month the company's stock tanked after CEO Ronald Hovsepian and CFO John Frederick left the company on the same day. 

Editor's note: story has been updated since 8:20 am EST

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